Stifel analyst Drew Crum initiated Zynga with a Buy rating and a price target of $5. The analyst cites the "favorable industry for mobile gaming", with annualized mobile gaming revenue expected to increase by 17%. Crum also cites his "expectations of greater visibility on its game pipeline, and further opportunities to improve adjusted EBITDA and free cash flow generation". Crum adds that while Zynga trades at a premium relative to most of its peers, it is warranted by its "recent execution around the utilization of live services and cost discipline".